Breaking News in association with Money AM

Friday, 30th July 2010

FTSE remains modestly lower midday, ahead of US GDP data

12:32pm
MIDDAY REPORT: Headline shares remained modestly lower at midday, as M&A chatter lit a fire under utility issues but was unable to parry weakness in retailers and pharmaceutical firms, investors cautious ahead of US GDP data.

At high noon, the FTSE100 was down 15.23 points at 5,298.72 with the FTSE250 off 75.96 points at 9,998.24 and the FTSE Smallcaps little changed at 2,783.95.

NEW YORK

Nervous investors pushed US stock futures lower today, ahead of the release of second-quarter GDP data.

Dow Jones Industrial Average futures...

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FTSE starts lower on weak miners and pharmaceuticals

9:02am
MORNING REPORT: Headline shares were modestly lower in early deals, as better-than-expected quarterly numbers from British Airways proved insufficient to overcome weakness amongst miners and pharmaceutical companies.

At 8:30am, the FTSE100 was down 22.02 points at 5,291.93 with the FTSE250 off 28.4 points at 10,045.8 and the FTSE Smallcaps 1.51 points higher at 2,785.76.

US & ASIA

In the US last night, the Dow lost 31 points at 10,467, the Nasdaq Composite fell 13 points at 2,252 and the S&P500 shed 5 points at 1,102.

In Asia...

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Helphire results to show strong recovery

8:02am
Helphire expects its results for the year to the end of June to show a strong recovery.

The firm says this follows the successful execution of its recovery plan and, as a result, performance will be in line with expectations.

The firm expects adjusted revenues of £304.2m (2009: £374.1m) and adjusted operating profits of £21.4m (2009: £4.7m), after a provision for management incentive payments, representing continued delivery of the turnaround plan of a smaller but more profitable business.

The firm says adjusted pre-tax profit will be £13.9m (2009: £5.2m loss) and...

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Anglo American earnings rise, reinstates dividend

7:47am
Mining giant Anglo American reported group operating profit of $4.4bn for the half-year to end-June ($4.1bn from core operations).

Underlying earnings were $2.2bn and underlying earnings per share $1.84.

Profit attributable to equity shareholders was $2.1bn.

Net debt at period end was $10.9bn.

The group had committed undrawn bank facilities and cash of over $12bn at end-June. Anglo said asset optimisation and procurement programmes were ahead of expectations, with run rate of $1bn from core businesses for the six month period. Asset optimisation: $796m, including one-off benefits, and...

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